CoinSwitch Launches $10 Million Web3 Discovery Fund to Invest in Early-Stage Indian Startups
By Eetika Kapoor
CoinSwitch, one of India’s largest crypto exchanges, on Tuesday announced the launch of corporate venture capital ‘Web3 Discovery Fund’ worth $10 million. The fund will invest in and incubate early-stage startups building blockchain solutions for the evolving Web3 landscape in India.
Despite the ongoing crypto winter, there has been a steady influx of capital for Indian web 3 startups. Web3 development and innovation in India witnessed investments worth $500 million+ in 2021.
Coinswitch’s Web3 Discovery Fund, with an initial corpus of $10 million, will provide single-window access to investor partners Tiger Global, Ribbit Capital, Coinbase Ventures, Sequoia Capital India, Woodstock Fund, Elevation Capital, alongside incubation partner Buidlers Tribe.